Zhong Guo Jing Ji Wang·2025-06-16 04:24Core Viewpoint - LABUBU, a toy character created by Hong Kong artist Long Jiasheng, has gained immense popularity, leading to a buying frenzy and significant price premiums in the market [1][4]. Group 1: Market Demand and Consumer Behavior - LABUBU has become a top-selling IP for Pop Mart, with a new store in Hangzhou selling out within two hours due to high demand [1][2]. - Consumers are experiencing difficulties purchasing LABUBU due to the presence of scalpers who buy entire boxes of products, leaving regular customers unable to buy [2]. - The limited edition VAS collaboration version of LABUBU is being resold for as high as 15,200 yuan, reflecting a significant markup [4]. Group 2: Sales and Distribution - Pop Mart has opened over 500 stores globally and reached over 90 countries through various e-commerce platforms by the end of 2024 [17]. - The company has temporarily halted the offline sales of LABUBU plush toys in South Korea due to safety concerns arising from overcrowding at stores [13]. Group 3: Brand and Cultural Impact - LABUBU's design and quality have contributed to its popularity, with the character's unique features making it memorable and appealing to consumers [17]. - The rise of LABUBU reflects a broader trend where collectible toys serve as a form of emotional expression and social currency among consumers [17]. - The brand has engaged in cultural collaborations, such as limited editions that resonate with local cultures in different countries, enhancing its global appeal [18].